Boralex will maintain its focus on the development and operation of power stations that generate renewable energy and will benefit from significantly enhanced asset diversification and increased cashflow, according to the company.

The purchase of the units will be completed by way of a take-over bid through which Boralex has agreed to offer unitholders C$100 principal amount of debentures for each 20 units held.

The special committee of independent trustees of Boralex Power Trust and the independent members of the board of trustees have unanimously determined, on behalf of the fund trustee, that the offer is fair to unitholders other than Boralex and is in the best interest of the fund and such unitholders.

Following completion of the transaction, it is expected that one of the independent trustees will join the board of Boralex as director. The fund will maintain its current distribution until completion of the offer.

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